PacWest Bancorp (NASDAQ:PACW) CFO Patrick J. Rusnak purchased 2,000 shares of the stock in a transaction on Thursday, October 19th. The stock was acquired at an average cost of $46.92 per share, for a total transaction of $93,840.00. Following the completion of the acquisition, the chief financial officer now owns 77,852 shares of the company’s stock, valued at approximately $3,652,815.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

PacWest Bancorp (PACW) traded up 1.62% during midday trading on Friday, hitting $47.77. 511,751 shares of the stock traded hands. The company has a market cap of $5.80 billion, a P/E ratio of 16.13 and a beta of 1.62. PacWest Bancorp has a one year low of $41.10 and a one year high of $57.53. The company’s 50 day moving average is $47.41 and its 200-day moving average is $47.85.

PacWest Bancorp (NASDAQ:PACW) last issued its earnings results on Tuesday, October 17th. The financial services provider reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.09. The business had revenue of $273.07 million for the quarter, compared to the consensus estimate of $281.14 million. PacWest Bancorp had a net margin of 30.80% and a return on equity of 7.87%. During the same quarter in the previous year, the firm earned $0.77 earnings per share. On average, equities research analysts forecast that PacWest Bancorp will post $2.98 EPS for the current fiscal year.

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Several equities research analysts have commented on PACW shares. Zacks Investment Research raised shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, July 22nd. DA Davidson raised shares of PacWest Bancorp from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Thursday, September 7th. UBS AG lowered shares of PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a report on Tuesday. ValuEngine lowered shares of PacWest Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub raised shares of PacWest Bancorp from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. PacWest Bancorp currently has a consensus rating of “Buy” and a consensus target price of $53.00.

A number of hedge funds have recently added to or reduced their stakes in the stock. Charter Trust Co. boosted its holdings in PacWest Bancorp by 0.8% during the second quarter. Charter Trust Co. now owns 4,757 shares of the financial services provider’s stock worth $222,000 after buying an additional 38 shares in the last quarter. Dowling & Yahnke LLC boosted its holdings in PacWest Bancorp by 0.8% during the second quarter. Dowling & Yahnke LLC now owns 7,858 shares of the financial services provider’s stock worth $367,000 after buying an additional 65 shares in the last quarter. First Allied Advisory Services Inc. boosted its holdings in PacWest Bancorp by 1.1% during the second quarter. First Allied Advisory Services Inc. now owns 5,781 shares of the financial services provider’s stock worth $269,000 after buying an additional 65 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in PacWest Bancorp by 1.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,895 shares of the financial services provider’s stock worth $369,000 after buying an additional 79 shares in the last quarter. Finally, Tudor Investment Corp ET AL boosted its holdings in PacWest Bancorp by 0.5% during the first quarter. Tudor Investment Corp ET AL now owns 20,370 shares of the financial services provider’s stock worth $1,085,000 after buying an additional 101 shares in the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

About PacWest Bancorp

PacWest Bancorp is a bank holding company for Pacific Western Bank (the Bank). The Company is focused on relationship-based business banking to small, middle-market and venture-backed businesses. As of December 31, 2016, the Bank offered a range of loan and deposit products and services through 77 branches located throughout the state of California, one branch located in Durham, North Carolina, and several loan production offices located in cities across the country.

Insider Buying and Selling by Quarter for PacWest Bancorp (NASDAQ:PACW)

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